How to avoiding probate?

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How to avoiding probate?

Mother died 3 years ago. Sister and I are 50/50 heirs. We have a Will. Bank has 4K of mom’s money they refuse to release without probate. Probate would cost about 3K total. There was no POD on the account. Do we have to wait for the money to go to unclaimed funds before we can collect? We aren’t wealthy and we could use the money. What is a cheaper alternative to probate?

Asked on August 5, 2012 under Estate Planning, Nevada

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

I am so sorry for your loss.  Every state has a small estate proceeding to allow those a simpler and faster way to get through the process when the assets of the estate are not substantial.  Nevada follows suit with what is known as a Affidavit of Entitlement. If the probate estate is $20,000 or less and there is no interest in real property involved then all you need is this affidavit and a court proceeding is not required. Under NRS 146.080 if you and your sister would inherit by intestate succession or under the Will then you would qualify. Here is an example used in Clark County.  Good luck.

http://www.clarkcountycourts.us/clerk/Probate/PDF/FORM%20--%20Affidavit%20of%20Entitlement.pdf


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